What are @Polkadot and @KusamaNetwork? It can be quite simple.

Quick Polkadot and Kusama 101 in this 10-tweet thread ↘️
It's also important to know what is *not* @Polkadot. Polkadot is not a smart contract platform - you can't build or use Apps on Polkadot. That's what parachains are for.
Here's a look at the @Polkadot tech stack from layer 0, to layer 1 (parachains like @AcalaNetwork), to the application layer (where U.S. fintech app @current is integrating with Acala):
Here is the @Polkadot tech stack from another view. You can see @AcalaNetwork plugging into Polkadot for security and interoperability, all the Substrate pallets/products built into Acala's layer 1 platform (like Ethereum but customized for DeFi), and the Acala Apps built on top.
Polkadot's "Relay Chain" is the core of the network that connects parachains and provides plug-and-play security to any parachain that connects to it. A parachain, like @AcalaNetwork or @KaruraNetwork, is an individual blockchain customized using the Substrate framework.
Polkadot has two types of bridges:

1) Polkadot-to-network (@InterlayHQ, @snowfork_inc)
2) Direct parachain-to-network bridge (@AcalaNetwork-to-@compoundfinance, and @AcalaNetwork-to-RenBTC)
These are the six key challenges that @Polkadot is solving:
And what is @KusamaNetwork? Kusama is the exact same as @Polkadot, but built for speed and experimentation. Teams can:
1) Run networks in parallel on Polkadot and Kusama
2) Launch on Kusama, then move to Polkadot
3) Run a network exclusively on Kusama
So why have two Relay Chains with @kusamanetwork and @Polkadot instead of just testnet and mainnet?

Kusama introduces a step between testnet and Polkadot, where teams can innovate and experiment in a real value (multi-billion dollar) mainnet environment.
For 19-minute introduction to @Polkadot and @kusamanetwork, go here:

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More from @danreecer_

15 Jun
The first-ever parachain slot auction on @kusamanetwork has begun!

Quick rundown of what happened the past week, what's happening now, and what's coming in the next 7 days.

Comment with questions and feel free to share if you learn something ⤵️
In the past week, many teams have opened their 'crowdloan' to garner $KSM contributions from their communities in support of their bid in the parachain slot auction. @KaruraNetwork, for example, currently has 362,791 $KSM in the crowdloan.
We have now entered the 'opening period' of the auction which you could think of as just a 2-day warm-up period. The winning bid cannot be chosen during this period. You'll see a blank screen on Polkadot.js dashboard because crowdloans auto-bid on day 3 - the 'ending period'.
Read 17 tweets
17 May
"The Launch of Parachains" has been published by Gavin Wood (@gavofyork) explaining timeline and next steps as we approach the first parachain auction on Kusama. Some new info!

If you don't have time to read or aren't technical, I simplified the key points in 14 tweets below ↘️
With the launch of parachain functionality, Kusama and Polkadot's multi-chain functionality is about to become a reality.
The latest upgrade on Kusama includes the ability to deploy parachains (layer 1 blockchains like Ethereum) to the network. It also includes logic for running parachain slot auctions and crowdloans which can be used to crowdfund a team's auction bid.
Read 14 tweets
24 Feb
This 34-tweet thread simplifies @Polkadot $DOT and @KusamaNetwork $KSM crowdloans and parachain slot auctions.

What is a crowdloan? How is it different/better than ICOs? How do I participate? How do parachain auctions work?

Comment your questions & please share. Let's go ⤵️
First, if you don't know what Polkadot and Kusama are, or still need the basics, check out my thread on Polkadot before you dive into this thread.
It's important to understand what Polkadot and Kusama are enabling with this new approach to a multi-chain network. Polkadot is a 3-layered platform, unlike legacy networks like Ethereum who are just one isolated chain with apps. Here is a simple diagram to explain:
Read 33 tweets
24 Jan
Last year I lost a mentor who was a world-class entrepreneur, a brilliant financial mind, and a family man, who was close to his life goal of buying the Cleveland Browns. Here are some things he taught me about business and life.

My favorite: “Have ridiculous expectations.”

On Business and Investing:

"You have to think unreasonably. You have to have unreasonable goals, otherwise you will react emotionally. In a simple framework you might double or triple your money and tell your friends about it while you sell out making $50k... (cont.)
..."Yet, the nearly insane person who has an audacious goal of holding $50-100M will ride through the noise until he gets closer to his/her goal and be unfazed by near-term moves.

Think long term, position yourself asymmetrically and have ridiculous expectations."
Read 10 tweets
17 Jan
Polkadot is complicated as hell! This 24-tweet thread is a beginner's guide to @Polkadot $DOT and @KusamaNetwork $KSM in simple English.

What is Polkadot? Kusama? Parachains? Crowdloan and Parachain slot auction?

Comment with other questions and share if you learn something ⤵️
What is Polkadot?

@Polkadot is a platform on which blockchain networks are built and connected into one unified network. These connected chains, called parachains, form a living organism of networks all in sync and secure. This forms the foundation on which Web3 will be built.
Dr. Gavin Wood, @gavofyork, founded @Polkadot after inventing the Ethereum Virtual Machine and the Solidity programming language for #Ethereum as the co-founder and CTO. Ethereum wasn't going to scale, and thus, Polkadot was born in 2017. polkadot.network/gavin-wood/
Read 27 tweets

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